Question: What Are The Documents Required To Open A Current Account?

What is the procedure of opening a current account?

Required Documents ID and Address proof (Aadhaar card, Driving license, PAN card, Passport, etc.).

What proof do I need to open bank account?

What ID do you need to set up a bank account?One form of primary photographic ID: such as a driver’s licence, passport or proof of age card.Two forms of primary non-photographic ID: such as a birth certificate, citizenship certificate or pension card.More items…•

What are the types of current account?

Let’s take a look at the different types of current accounts there are, which are based on the different requirements you might have.Premium Current Account.Standard Current Account:Foreign Currency Account:Packaged Current Account:Single Column Cash Book.

Can I open a current account without GST?

Yes. Every one can open a current account without GST registration if the account holder declares that his taxable turnover in a financial year shall not exceed 20 lakhs per annum. Yes you can ! but you need to provide documents of your business like address proof, identity proof etc. to the bank.

What is the limit of current account?

Description of ChargesMax Current AccountAverage Quarterly BalanceRs.5,00,000/- (AQB)Non-Maintenance Charges (per Quarter/Month/half yearly)Rs. 2,50,000 & above – Rs. 3,000 per quarter Less than Rs.2,50,000 – Rs.8,000 per quarter18 more rows

Is GST compulsory for current account?

Bank account details can be added later vide amendment of non-core field. Therefore, Current Account is not compulsory for GST Registration. And, you can use either saving account or Current account to register for GST in India.

Which is best bank for current account?

Best Bank for Current Account in India 2020#1. ICICI Bank Current Account (For Best Technology)#2. HDFC Bank Current Account (For Best Products)#3. IndusInd Bank Current Account (Lower AMB yet Great Features)#4. Axis Bank Current Account.#5. Citi Bank Current Account (For Global Business)#6. State Bank of India Current Account (Widespread Reach)#7. … #8.More items…•

Can I open my bank account without Aadhar card?

The Supreme Court of India ruled that it is not necessary for you to link Aadhaar Card to existing savings accounts or to open a bank account. No private company or bank can ask for an individual’s Aadhaar as a mandatory document for verification.

Is PAN card mandatory to open a bank account?

The Reserve Bank of India (RBI) has made Aadhaar and PAN cards mandatory for opening bank accounts. The updated circular said Aadhaar and PAN numbers must be quoted for new bank accounts. …

Can I open zero balance current account?

A zero balance current account can be opened in any commercial or non-commercial bank. One can choose from the list of top banks providing zero balance current accounts. The user needs to submit all the KYC acceptable documents along with the current account opening form at the nearest bank branch.

Can a normal person open current account?

A Current account can be opened in most of the commercial banks. A current account being a zero-account, is generally associated with huge transactions on a regular basis.

How can I open a bank account without any documents?

Driving Licence. Voters’ Identity Card. PAN Card. Aadhaar Card issued by UIDAI and.

What is the minimum balance in BOI current account?

7500/- in Metro, Rs. 500/- per quarter if AQB goes below Rs. 5000/- in Urban, Rs.

How much money should I have in my current account?

A good rule of thumb is to keep at least one month of net pay in your checking at all times. Look for a checking account with no monthly fee and no minimum balance.